By admin TItle Buzz 07/10/2017

Title Buzz – Episode 3

The topic of today’s Title Buzz is Property Assessed Clean Energy mortgages or PACE mortgages. Miami-Dade county home owners will know that County issued funds are available for homeowners wishing to make improvements to their home which will allow you to benefit from clean energy. A common example are hurricane impact windows.The funds must be repaid and if the property is to be sold before the funds are repaid the property owner is obligated to advise the buyer of the existence of the PACE mortgage. The option then falls to the buyer to either assume payment of the PACE mortgage or require the seller to pay the balance prior to closing. Without a clued-in real estate or closing agent you will experience a problem at the closing.